First Home Buyers' Guide - NT Programs & Grants 2021
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First Home Buyers’ Guide NT Programs & Grants 2021
ABOUT
The ‘PRD First Home Buyers’ Guide’ is designed to help you quickly
understand what is on offer to first home buyers around Australia.
With so many programs and grants available at the various State and Federal
Government levels, it can be difficult to know where to turn to learn what is
relevant to your personal situation. This guide helps you do just that.
A combined understanding of all the applicable programs and grants will help
you maximise the benefits you can access as a first home buyer, and get you
into the property market sooner.
Dr Diaswati Mardiasmo
PRD Chief Economist
NATIONAL
FIRST HOME LOAN DEPOSIT SCHEME
OVERVIEW
The FHLDS enables first home buyers to purchase a
home with a minimum 5% deposit while paying no
LMI (Lenders Mortgage Insurance) with participating
lenders. The scheme will support 11,800 buyers from
WHAT IS A REGIONAL CENTRE?
1 July 2020 to 30 June 2021. An additional 10,000 • Regional centres have populations over 250,000
places are also available over this period for newly • Include Newcastle & Lake Macquarie, Illawarra,
built* properties. Price thresholds on property values Geelong, Gold Coast, and Sunshine Coast
apply as per the table below.
WITHDRAWAL THRESHOLDS ELIGIBLE PROPERTY TYPES
Capital Cities/ All residential property, including:
State/Territory Rest of State • New house and land construction
Regional Centres
Existing $700K Existing $450K • New off-the-plan purchases
NSW • Established houses, townhouses, units/apartments
New $950K New $600K
• Vacant land with intention to build a home
Existing $600K Existing $375K
VIC
New $850K New $550K
Existing $475K Existing $400K APPLICANT ELGIBILITY
QLD
New $650K New $500K • Must be an individual (not a trust or company)
Existing $400K Existing $300K • Must be aged 18+ years
WA
New $550K New $400K • Income below $125K in FY18/19 if single, or below
Existing $450K Existing $250K $200K if a couple
SA
New $500K New $400K • Must be an Australian citizen
Existing $400K Existing $300K • Must not have previously held an interest in
TAS
New $550K New $400K Australian property
Existing $500K Existing $500K • Couples must be married or in a de facto relationship
ACT
New $600K New $600K
NT
Existing $375K Existing $375K MORE INFO: PRD.com.au/first-home
New $550K New $550K
*A new home is a home that has never been lived in. It can be newly constructed, or substantially renovated (and not previously sold). Specific property type (i.e. house, unit etc) is not a factor.
Prepared by PRD Research. © PRD Real Estate 2021.
NATIONAL
HOMEBUILDER
OVERVIEW ELIGIBLE PROPERTY TYPES
HomeBuilder is a $15,000 grant available to home Newly built* residential property, including:
buyers of new builds or substantial renovations of • House and land construction
existing residential properties purchased from 1 • Off-the-plan purchases
January 2021 to 31 March 2021. Price thresholds on Substantial renovations on residential property
property values apply as per the table below.
APPLICANT ELIGIBILITY
PRICE THRESHOLDS • Must be an individual (not a trust or company)
• Must be aged 18+ years
Type Limit • Income below $125K in FY18/19 or FY19/20 if single,
or below $200K if a couple
Up to $750K • Must be an Australian citizen
New construction Up to $850K (VIC) • Work must be completed a licensed builder service
Up to $950K (NSW) contractor (owner builders ineligible)
• Construction commencing from within 6 months of
$150K to $750K, and contract date
Renovation
valued below $1.5M
MORE INFO: PRD.com.au/first-home
FIRST HOME SUPER SAVER SCHEME (FHSS)
OVERVIEW ELIGIBLE PROPERTY TYPES
The FHSS Scheme is a tax-effective method which All residential property, including:
allows the release of voluntary superannuation • New house and land construction
contributions plus any associated earnings from • New off-the-plan purchases
1 July 2018 onwards, using voluntary contributions • Established houses, townhouses, units/apartments
made from 1 July 2017 onwards. Thresholds on • Vacant land with intention to build a home
withdrawals are as per the table below.
APPLICANT ELGIBILITY
WITHDRAWAL THRESHOLDS • Must be an individual (not a trust or company)
• Must be aged 18+ years
• Must not have previously held an interest in
Period Limit Australian property (exemption for financial hardship)
• Must not have previously requested the release of
funds under the scheme
One Financial Year $15K plus earnings • Must intend to move into and live in the property as
soon as practicable
• Must intend to live in the property for 6 months+ in
All years (total limit) $30K plus earnings
the first year owned
MORE INFO: PRD.com.au/first-home
*A new home is a home that has never been lived in. It can be newly constructed, or substantially renovated (and not previously sold). Specific property type (i.e. house, unit etc) is not a factor.
Prepared by PRD Research. © PRD Real Estate 2021.
NORTHERN TERRITORY
FIRST HOME OWNER GRANT (FHOG)
OVERVIEW APPLICANT ELIGIBILITY
The FHOG is a $10,000 grant made available to first • Must be an individual (not a trust or company)
home buyers for new* residential properties purchased • Must be aged 18+ years at settlement
from 7 May 2019 onwards. There is no price threshold • Buyer (and partner) must not have previously held an
on property value or income applied to this grant. interest in Australian property
• Buyer (and partner) must not have previously
ELIGIBLE PROPERTY TYPES received funds under any first home buyer scheme
• At least one of buyer and partner must be an
Newly built* residential property, including:
Australian citizen or permanent resident
• House and land construction
• Must move in within 12 months of purchase and
• Off-the-plan purchases
remain for 6 continuous months
MORE INFO: PRD.com.au/first-home
TERRITORY HOME OWNER DISCOUNT (THOD)
OVERVIEW ELIGIBLE PROPERTY TYPES
The THOD is a stamp duty exemption/concession All residential property, including:
made available to home buyers of residential • New house and land packages
properties purchased from 8 February 2019 onwards. • New off-the-plan purchases
Price thresholds on property values apply as per the • Established houses, townhouses, units/apartments
table below. • Vacant land with intention to build a home
PRICE THRESHOLDS APPLICANT ELGIBILITY
• Must be an individual (not a trust or company)
• Must be aged 18+ years at settlement
Type Exemption Concession • Buyer (and partner) must not be entitled to any other
grant or rebate payable by the WA Commissioner
(except FHOG) relating to the purchase of the home
• Buyer (and partner) must not have held an interest in
property in WA in the past 2 years (some exceptions)
• At least one of buyer and partner must be an
All homes Below $430K Below $650K Australian citizen or permanent resident
• Must move in within 12 months of purchase and
remain for 6 continuous months
MORE INFO: PRD.com.au/first-home
*A new home is a home that has never been lived in. It can be newly constructed, or substantially renovated (and not previously sold). Specific property type (i.e. house, unit etc) is not a factor.
Prepared by PRD Research. © PRD Real Estate 2021.
NORTHERN TERRITORY
HOME BUYER INITIATIVE
OVERVIEW HOW IT WORKS
The HBI is a government imitative to support low to • Applicants must have financial pre-approval
middle income earners build or buy new* property. • WA Government releases eligible properties
INCOME LIMITS APPLICANT ELGIBILITY
• Must be an individual (not a trust or company)
Household size Maximum gross income
• Must be aged 18+ years
1 $80,000 • Buyer must be an Australian citizen or permanent
resident
2 $97,500 • Must have a satisfactory pre-approval finance letter
• Not exceed maximum income limits
3 $105,000 • Not currently own residential property or be a party
contracted to purchase another property
4 $112,500
5 $120,000
6 or more $127,500
MORE INFO: PRD.com.au/first-home
HOMEBUILD ACCESS
OVERVIEW ELIGIBLE PROPERTY TYPES
HomeBuild Access is government package which New* residential property, including:
affords buyers low upfront cost loan options for • New house and land construction
new* homes, with options for as little as a 2.5% • New off-the-plan purchases
deposit available. Price thresholds on property values
apply as per the table below.
PRICE THRESHOLDS APPLICANT ELGIBILITY
• Must be an individual (not a trust or company)
Type Limit • Must be aged 18+ years
• Buyer (or partner) must be an Australian citizen or
permanent resident
• Must live in the home for at least 3 years once built
1 - 2 Bedrooms $475K • Have a single fixed priced building contract with a
NT-licensed builder if constructing a house
• Not currently have a HomeBuild Access loan
3+ Bedrooms $550K • Varying conditions (i.e. income limits, asset tests,
etc) depending on the type of loan applied for
MORE INFO: PRD.com.au/first-home
*A new home is a newly constructed property. Specific property type (i.e. house, unit etc) is not a factor.
Prepared by PRD Research. © PRD Real Estate 2021.
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PRD does not give any warranty in relation to the accuracy of the information contained in this report. If you intend to rely upon the
information contained herein, you must take note that the information, figures and projections have been provided by various
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